Mike Bond’s Blog

There is so much talk these days of how great of a time it is to buy a home.  While that’s true in many situations, it is not always the case.  Ultimately, you have to be comfortable and aware of all the risks & rewards.

 ”It’s a buyer’s market!”, “Act now or you’ll be sorry!”, “What are you waiting for?!”…etc….These are all comments made by many Real Estate Agents in hopes of getting their clients to purchase.  Not all agents say this, and if you’re working with a Realtor, they are supposed to adhere to a code of ethics that keeps only your best interest in mind.  However, there are some agents that may put unnecessary pressure on you when it comes to buying (or selling).  When it’s all said and done, the Realtor you’re working with is basically just your tour guide, trying to keep you on the right path.  You wouldn’t go out on a safari adventure without an experienced guide who is being paid to keep you safe and show you some awesome sights at the same time.  You could (in theory) just pay a local to drive you out into the jungle and get right up close to an elephant, but they might not drive you back and what happens if that elephant tramples all of you?  With that in mind, why would you use an agent that might not be looking out for your best interests when it comes to buying (or selling) a house? 

If you ever feel too much pressure from your agent then you should all sit down and discuss your options.  Perhaps you’ve looked at 100 houses and didn’t have anything nice to say about any of them.  Maybe you don’t know just what you want until you see it.  It’s possible the search criteria is not really what you thought….you said you wanted a ranch but maybe you want a split-level and didn’t realize it.  It’s easy for an agent to get impatient with a client (and vice versa) when they just aren’t finding what they’re currently looking for.  Before it gets to a point that either party is completely unsatisfied with the other, it’s important to revisit your search criteria and expecations of each other.  If you still are having difficulty coming to any compromises, perhaps an associate of your agent might be better able to assist you.

Agents that have alot of listings also have alot of time they need to spend tending to those clients on the sell side.  If you know that you are expecting to look at every single house that meets your broad criteria, it’s only fair to search for an agent that has the time to dedicate to showing you all of those properties.

It’s a tough time for many agents and they might tend to take on any listing they can or work with any buyer that comes their way.  However, if they don’t have the time to really spend with their clients, than nobody wins.  I wouldn’t want my safari tour guide too busy concentrating on something else when he’s driving me into the thick of the jungle!

Consider the reasons for your decision before you get started on your home search:

Are you just wanting to buy because everyone tells you that you should?  What do you really know about the investment you’ll be making?  How long do you plan on staying in your home?  Is your income steady or is your job in jeopardy?  Would you consider having a roomate to offset some of your mortgage?  Are you ready for all the maintenance, taxes, insurance, and other costs involved?  How much room do you really need?  Are you handy and able to settle for a home that needs more work but might cost far less? Would you like the tax benefits of owning a home?, Do you simply want a place you can call your own and have pride of ownership and freedom to do what you want to it?, Etc…

OR,

Are you happy renting? Are you able to put money into other wise investments because you have a favorable rent price monthly?  Are you always at risk of being relocated with your job?  Do you like not having to maintain a yard, exterior structures, etc?  Is your location ideal and otherwise unaffordable to own in the same area? Are you okay with the fact that rent typically always goes up annually, whereas you mortgage (principal and interest) typically remains the same over the course of the loan?

Long story short, when you start thinking that it’s a great time to buy, make sure you weigh all your options.  Then find a Realtor who has the time, patience, and understanding for what you are looking for.  Many people don’t realize that they are not personally paying the Realtor (in most cases) when they are buying a house.  The agent they choose to represent them is paid (typically) by the sellers ONLY when they close.  There are other costs involved that the buyer is responsible for (i.e - home inspections, attorneys fees, etc), however, the invaluable service of having a professional assist you with your search is almost always FREE to you.  If you were selling that would be a different story and it’s almost always true that “you get what you pay for” there.  It’s very important to keep in mind that your professional guide will do everything in his/her power to find you the home you are looking for.  Just as the safari guide might not be able to find you an endangered species on your trek, your criteria in a home has to be realistic for your situation.  There is a house out there for everyone, but some are harder to come by and therefore luck might also come into play.

Every decision in the home buying process is yours, beginning with the desire to buy.  You are the boss…your Realtor is simply working off of what you tell them you’re looking for.  If you’re not ready to buy, don’t waste your time or the agents time…it’s a big decision and requires more time and engery than you might think (for both parties).  Once you’re absolutely sure you want to purchase a home, find a Realtor who you feel you can get along with very well.  You’ll practically be married to eachother while pursuing your home search and all the way up to and after closing, so make sure you’re happy with this Agent.  They should care more about finding you the place that meets your needs than ”how much they’re going to make” on you!  Finally, make sure they’re as ready as you are.  If you’re a high-energy person, you’ll expect the same from your agent.  If you’re more relaxed, you might be overwhelmed by the cappuccino-guzzling agent who speaks a million words a minute.

Be ready to buy once you’ve decided.  While they can’t make any decision for you, your Realtor is a professional that should be trusted.  Your agent’s experience and expertise will surely help you make a wiser choice when it comes to buying.  If you have any doubt whatsover as to your decison of buying a house, don’t waste your time.  You should be 100% certain that you’re ready to buy, otherwise you’ll drive yourself completely NUTS!  Not to mention the Realtor representing you! (c:

Anyone who has sold their home prior to 5-7 years ago may not understand how much things have changed since then. It used to be that an agent could hold an open house, put an ad in the paper, send out mailings, and input into the mls in hopes of getting people through the door to buy your home. Things have changed quite a bit in a short amount of time. Chances are that if you’re reading this blog you understand this because the computer you’re using to access this is the same culprit that has revolutionized the home selling/buying process. It is almost impossible to expect your home to sell without it having some kind of marketing on the internet.

The vast majority of potential home buyers start their home search online and often months before they’re really serious about actually buying! The amazing thing is that this equates to many more showings from more people all over the globe. No matter how many open houses your agent holds it will never equal the number of people coming through your home compared to “virtual showings”. With this in mind, it is more important than ever to market the highlights of your home so that those viewing it online are inspired to schedule a physical showing. The key to this is, first and foremost, having professional quality photographs that showcase your home. Virtual tours, videos, floorplans, engaging descriptions, maps, mortgage scenarios, and community information are all critical components as well.

The better your home looks and feels to those viewing it online, the more likely you will be to actually have them come through your door and fall in love with your home. Keep in mind that there is no “smell-o-vision” yet available online, so if your home has an obnoxious odor, it’s imperative that this is resolved before anyone comes knocking at the door. Pet, smoke, mildew and other odors can repel potential buyers despite the beauty of the home.

The internet itself will not sell your home, just as a lawnmower itself doesn’t automatically mow your lawn (except for those fancy robo-lawnmowers, but they can’t be that good can they? (c: ). The important thing to remember is that the internet is quite possibly the best TOOL for helping you market your home. Again, hammers are helpful for pounding nails, but if you don’t know how to use one, you’re likely to hurt yourself. If you don’t have the best possible photographs, content, and information about your home, you’ll scare people away from even wanting to schedule a physical showing. It’s even more important that your home looks, smells, and feels it’s best when the potential buyer actually walks through the door.

If you are considering selling and have questions on how you can best promote your property, feel free to contact me with any questions or concerns you may have. I will be happy to give you some ideas that might help you, regardless of whether you list with me or not. I have more experience than most in visual marketing of real estate, and my fresh outlook has proven to be a great asset in my business. I’m happy to help in any way I can!

Thanks,

Mike Bond

Welcome to Mike Bond’s Blog! This blog will provide you with valuable information, tips, and general insight into the real estate market in Lake County, IL as well as surrounding areas.  The goal is to keep you as informed as possible on all matters concerning and affecting the real estate market from Waukegan to Volo, and Antioch to Lake Forest, and everything in between.

It is my pleasure to host this blog for you and encourage you to participate by posting your questions, comments, concerns, etc.

I hope you visit often and become more educated every time you visit!!

Thank You!

Mike Bond